Standard 3:Plan and Manage Money – Students will develop skills to plan and manage money effectively by developing financial goals and spending plans.
Grades 3-5
Grades 6-8
Grades 9-12
3.5.ADemonstrate ability to use money management skills and strategies in acquiring goods and services. 3.5.A.1Define and list the components of a spending plan. 3.5.A.2Identify strategies for using a spending plan. 3.5.A.3Develop a spending plan indicating income and expenses. (Money Management B.1 combined with Soc. St. 4.B.2)
3.8.ADemonstrate ability to use money management skills and strategies. 3.8.A.1Analyze a spending plan and make recommendations regarding income and expenses. 3.8.A.2Prepare a spending plan for various applications, such as personal, family, business, and entrepreneurship. 3.8.A.3Formulate and compare money management choices that enable individuals to progress toward stated financial goals.
3.12.ADemonstrate ability to use money management skills and strategies. 3.12.A.1Analyze a spending plan and make recommendations regarding income and expenses. 3.12.A.2Analyze and compare income and spending plans as affected by age, needs, and resources. 3.12.A.3Apply various money management strategies to authentic situations and predict results over time. 3.12.A.4Cite examples of trade-offs resulting from competing financial goals.
3.5.BIdentify the services of financial institutions. 3.5.B.1Describe the services financial institutions provide. (Money Management B.2)
3.8.BDescribe the services of financial institutions. 3.8.B.1Explain and select appropriate financial institutions to assist with meeting various personal financial needs and goals. 3.8.B.2Describe various financial products or services and the most appropriate use of each.
3.12.BAnalyze the services of financial institutions. 3.12.B.1Develop a plan that uses the services of various financial institutions to meet personal and family financial goals. 3.12.B.2Describe and calculate interest and fees applied to various forms of spending, debt, and saving.
3.5.CDescribe financial goals based on personal values. 3.5.C.1Identify ways to earn and save for a future event. 3.5.C.2Develop age-appropriate financial goals. (Money Management B.3)
3.8.CDevelop financial goals based personal values. 3.8.C.1Develop a plan to secure funding for a future event. 3.8.C.2Analyze and discuss the long-range impact of setting personal financial goals.
3.12.CDevelopand evaluate financial goals based on personal values. 3.12.C.1Compare various strategies for securing funding for a future event. 3.12.C.2Integrate long-range personal goals with financial needs and resources.
Standard 3:Plan and Manage Money – Students will develop skills to plan and manage money effectively by developing financial goals and spending plans.
Grades 3-5
Grades 6-8
Grades 9-12
3.5.DUnderstand the purposes and responsibilities related to taxation. 3.5.D.1Explain the meaning and purposes of taxes. 3.5.D.2Describe how taxation affects individuals, families, and communities. 3.5.D.3Explain the reasons for paying taxes. (Money Management B.4)
3.8.DExplain the purposes and responsibilities related to taxation. 3.8.D.1Explain the purpose of existing forms of taxation at the federal, state, and local levels. 3.8.D.2Describe how government’s tax policies affect individuals, families, and communities. 3.8.D.3Identify reasons to comply with personal tax obligations and the consequences of not doing so. 3.8.D.4Describe ways consumers can influence the use of public funds. 3.8.D.5Describe the advantages and disadvantages of various sources of assistance with tax planning and filing.
3.12.DEvaluate the purposes and responsibilities related to taxation. 3.12.D.1Analyze the application and impact of various forms of taxation on individuals, families, and public agencies. 3.12.D.2Critique how government’s tax policies affect individuals, families, and communities. 3.12.D.3Identify reasons to comply with personal tax obligations and the consequences of not doing so. 3.12.D.4Analyze ways consumers influence the use of economic resources to achieve basic societal and individual services. 3.12.D.5Evaluate various sources of assistance with tax planning and filing.
3.5.EDescribethat contracts are binding agreements. 3.5.E.1Describe why people enter into contracts. 3.5.E.2Differentiate between written and verbal contracts. (Critical Consumer E.4)
3.8.EExplainthat contracts are binding agreements. 3.8.E.1Explain why contracts are used. 3.8.E.2Identify conditions that must be met when entering into contracts. 3.8.E.3Identify factors to consider when entering into a contract, such as interest rates, reputation, and/or references of involved parties.
3.12.EExplainthat contracts are binding agreements. 3.12.E.1Examine situations where written contracts are necessary. 3.12.E.2Examine sample contracts for essential components and meaning. 3.12.E.3Identify the rights and responsibilities of all parties entering into a contract, such as college loans, cell phones contracts, car loans, and mortgages.
3.5.A.1 Define and list the components of a spending plan.
3.5.A.2 Identify strategies for using a spending plan.
3.5.A.3 Develop a spending plan indicating income and expenses.
(Money Management B.1 combined with Soc. St. 4.B.2)
3.8.A.1 Analyze a spending plan and make recommendations regarding income and expenses.
3.8.A.2 Prepare a spending plan for various applications, such as personal, family, business, and entrepreneurship.
3.8.A.3 Formulate and compare money management choices that enable individuals to progress toward stated financial goals.
3.12.A.1 Analyze a spending plan and make recommendations regarding income and expenses.
3.12.A.2 Analyze and compare income and spending plans as affected by age, needs, and resources.
3.12.A.3 Apply various money management strategies to authentic situations and predict results over time.
3.12.A.4 Cite examples of trade-offs resulting from competing financial goals.
3.5.B.1 Describe the services financial institutions provide.
(Money Management B.2)
3.8.B.1 Explain and select appropriate financial institutions to assist with meeting various personal financial needs and goals.
3.8.B.2 Describe various financial products or services and the most appropriate use of each.
3.12.B.1 Develop a plan that uses the services of various financial institutions to meet personal and family financial goals.
3.12.B.2 Describe and calculate interest and fees applied to various forms of spending, debt, and saving.
3.5.C.1 Identify ways to earn and save for a future event.
3.5.C.2 Develop age-appropriate financial goals.
(Money Management B.3)
3.8.C.1 Develop a plan to secure funding for a future event.
3.8.C.2 Analyze and discuss the long-range impact of setting personal financial goals.
3.12.C.1 Compare various strategies for securing funding for a future event.
3.12.C.2 Integrate long-range personal goals with financial needs and resources.
3.5.D.1 Explain the meaning and purposes of taxes.
3.5.D.2 Describe how taxation affects individuals, families, and communities.
3.5.D.3 Explain the reasons for paying taxes.
(Money Management B.4)
3.8.D.1 Explain the purpose of existing forms of taxation at the federal, state, and local levels.
3.8.D.2 Describe how government’s tax policies affect individuals, families, and communities.
3.8.D.3 Identify reasons to comply with personal tax obligations and the consequences of not doing so.
3.8.D.4 Describe ways consumers can influence the use of public funds.
3.8.D.5 Describe the advantages and disadvantages of various sources of assistance with tax planning and filing.
3.12.D.1 Analyze the application and impact of various forms of taxation on individuals, families, and public agencies.
3.12.D.2 Critique how government’s tax policies affect individuals, families, and communities.
3.12.D.3 Identify reasons to comply with personal tax obligations and the consequences of not doing so.
3.12.D.4 Analyze ways consumers influence the use of economic resources to achieve basic societal and individual services.
3.12.D.5 Evaluate various sources of assistance with tax planning and filing.
3.5.E.1 Describe why people enter into contracts.
3.5.E.2 Differentiate between written and verbal contracts.
(Critical Consumer E.4)
3.8.E.1 Explain why contracts are used.
3.8.E.2 Identify conditions that must be met when entering into contracts.
3.8.E.3 Identify factors to consider when entering into a contract, such as interest rates, reputation, and/or references of involved parties.
3.12.E.1 Examine situations where written contracts are necessary.
3.12.E.2 Examine sample contracts for essential components and meaning.
3.12.E.3 Identify the rights and responsibilities of all parties entering into a contract, such as college loans, cell phones contracts, car loans, and mortgages.